28 Feb 2020director interest notice● Neutral
Ovintiv Inc. EVP, Midstream, Mrktg & Fndmtl Renee Ellen Zemljak exercised stock options for 22,670 shares and disposed of 45,340 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
28 Feb 2020director interest notice● Neutral
Ovintiv Inc. EVP, General Counsel & CorpSec Joanne Linette Alexander exercised stock options for 12,662 shares and disposed of 25,324 shares.
28 Feb 2020director interest notice● Neutral
Ovintiv Inc. EVP, Corporate Services Michael Williams exercised stock options for 14,388 shares and disposed of 28,776 shares.
27 Feb 2020director interest notice● Neutral
Ovintiv Inc. director Thomas G Ricks bought 25,000 shares on the open market at $10.71.
27 Feb 2020director interest notice● Neutral
Ovintiv Inc. Chief Executive Officer Douglas James Suttles bought 2,000 shares on the open market at $10.76.
26 Feb 2020director interest notice● Neutral
Ovintiv Inc. Chief Executive Officer Douglas James Suttles bought 3,000 shares on the open market.
25 Feb 2020director interest notice● Neutral
Ovintiv Inc. Chief Executive Officer Douglas James Suttles bought 3,000 shares on the open market.
25 Feb 2020director interest notice● Neutral
Ovintiv Inc. Chief Executive Officer Douglas James Suttles bought 3,000 shares on the open market.
25 Feb 2020director interest notice● Neutral
Ovintiv Inc. President Michael Gerard Mcallister bought 2,600 shares on the open market at $13.77.
24 Feb 2020director interest notice● Neutral
Ovintiv Inc. Chief Executive Officer Douglas James Suttles bought 5,000 shares on the open market at $14.69.
24 Feb 2020director interest notice● Neutral
Ovintiv Inc. director Thomas G Ricks bought 15,500 shares on the open market at $15.87.
20 Feb 2020quarterly activities report▼ Bad
Ovintiv Inc. reported quarterly revenue of $1565.0 million and a net loss of $6.0 million for the period ended 2019-12-31.
11 Feb 2020substantial holder notice● Neutral
CAUSEWAY CAPITAL MANAGEMENT LLC, TIN # disclosed a new substantial Ovintiv Inc. shareholding (12.47% of votes).
10 Feb 2020substantial holder notice● Neutral
Dodge & Cox disclosed a new substantial Ovintiv Inc. shareholding (11.90% of votes).
29 Jan 2020debt financing▲ GoodMajor
Established new credit facilities for the newly formed Ovintiv: $2.5 billion revolving commitments in the US and $1.5 billion in Canada ($4 billion combined), maturing 2024 — ample liquidity backing the new corporate structure.
29 Jan 2020quarterly activities report▼ Bad
Ovintiv posted its Anadarko Day materials and a first look at 2019: proforma production of 589 MBOE/d and capital investment of $2.8 billion. It said STACK drilling and completion costs fell to $6.0 million per well.
28 Jan 2020security holder rights change● Neutral
Ovintiv fully and unconditionally guaranteed Newfield's 2022, 2024 and 2026 senior notes ($750 million, $1 billion and $700 million), while Ovintiv Canada (formerly Encana) guaranteed Ovintiv's eight series of notes.
28 Jan 2020security holder rights change● Neutral
Ovintiv formally assumed Encana's own legacy bond obligations (eight series of notes maturing between 2021 and 2041) as successor issuer, completing the legal transition of the corporate reorganization.
27 Jan 2020business combination● Neutral
Filed a routine post-effective amendment to the reorganization registration statement, updating auditor consents after the transaction closed.
24 Jan 2020business combination▲ GoodMajor
Encana completed its reorganization on January 24, 2020. Ovintiv, a new parent company, acquired all Encana shares one-for-one after a 1-for-5 consolidation, then migrated from Canada to become a Delaware corporation. Its stock began trading on the NYSE and TSX on January 27.
11 Dec 2019securities registration● Neutral
Filed the final proxy statement/prospectus for Encana's proposed reorganization, in which Ovintiv would become the parent company and move to Delaware, with a shareholder meeting set for January 14, 2020.
5 Dec 2019business combination● NeutralMajor
The amendment set 9 December 2019 as the record date for the Encana meeting and laid out what changes for holders in moving from a Canadian to a Delaware company: Encana's articles say nothing about where shareholders must sue, and derivative, oppression and dissent remedies run through specified Canadian courts, whereas Ovintiv's certificate designates the Delaware Court of Chancery as the exclusive forum. Dividend and withholding tax treatment will also diverge between Canadian and US holders.
6 Nov 2019business combination▲ GoodMajor
Filed to reorganize Encana Corporation into a new company, Ovintiv Inc.: a Canadian plan of arrangement exchanging Encana shares 1-for-1 into the new parent after a 1-for-5 share consolidation, followed by Ovintiv's migration from Canada to become a Delaware corporation — a rebrand and US redomiciliation, not a merger with an outside party.